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How it works/Example: There are generally two types of tariffs. Ad valorem tariffs are calculated as a fixed percentage of the value of the imported good. When the international price of a good rises or falls, so does the tariff. A specific tariff is a fixed amount of money that does not vary with the price of the good.In some cases, both the ad valorem and specific tariffs are levied on the same product.hen the international price of a good rises or falls, so does the tariff. A specific tariff is a fixed amount of money that does not vary with the price of the good. In some cases, both the ad valorem and specific tariffs are levied on the same product.
Let's first review what tariffs and quotas are and then discuss the effects they can have on imported goods and the prices we pay. A tariff is a tax imposed on imports, which are goods coming into a country. The tax may range from a few percent of the cost of the good to well over 100% of the cost of the good!